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Your IRP5 is proof that you paid your monthly taxes due for the year of assessment. The form basically acts as a receipt and without it, you cannot claim the credit that you have been accumulating from your monthly payments. That means you cannot prove that you paid those taxes in advance and essentially you

Like most, I’m sure it is very disheartening to see your salary being reduced from what was agreed to as per your job interview or contract to what actually finds its way into your bank account net of tax. So, what exactly are we even paying for? What is Tax Used For? This is where

Simply put, an IRP5 is a certificate which is required by law to be submitted to SARS which outlines exactly how much your employer remunerated you for services rendered. What Does the IRP5 Include? This can include your salary, any travel allowances, other benefits from the job, bonuses and commission income received during the tax

What Makes Up a Refund? Ever wondered why in one year you received a refund in and yet in the next year you are asked to cough up the money? Why the change from year to year if your salary has barely changed, has your employer not paid enough on your behalf? As previously stated,

Simply put, a refund is given to you by SARS when you have overpaid your taxes taxes has been overpaid.  But how does an overpayment happen and what is a so-called “tax payable”? Let’s Understand The Tax Year The tax year, for the individual, begins on the first day of March and runs through to